Director dealings: Skyepharma CFO gets cash injection from Vectura merger

Derodra exercised nil-cost options over 150,000 Skyepharma shares that were a bonus in his long-term incentive plan that vested on completion of the merger on Friday and so were automatically converted into new Vectura shares.

Under the merger agreement, shares in Skyepharma are exchanged for ordinary shares of 0.025 pence in Vectura at a ratio of 2.7977405 Vectura shares for each Skyepharma share.

Derodra, who is remaining part of the management team of the enlarged group, later on Friday sold all 419,661 of his new Vectura shares in London at an average price of £1.536209 per share, making over £644,000.

The combined group will see Derodra led by James Ward-Lilley, Vectura's chief executive officer, in the CEO seat, with Vectura's Trevor Phillips as chief operating officer and Vectura chairman Bruno Angelici also chairman of the enlarged group.

Top Director Buys

Globalworth Real Estate Investments Limited (GWI)
Director name: Papalekas,Ioannis
Amount purchased: 10,000 @ € 5.15
Value: € 51,500.00

Hikma Pharmaceuticals (HIK)
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Amount purchased: 70,000 @ 21.65p
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Hikma Pharmaceuticals (HIK)
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Stilo International (STL)
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U And I Group (UAI)
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Johnson Matthey (JMAT)
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Top Director Sells

Vectura Group (VEC)
Director name: Derodra,Andrew
Option sale: 419,661 @ 153.62p
Value: £644,687.00

Young & Co's Brewery 'a' Shares (YNGA)
Director name: Whitehead,Peter
Amount purchased: 20,391 @ 1,201.00p
Value: £244,895.91

Young & Co's Brewery 'a' Shares (YNGA)
Director name: Goodyear,Stephen
Amount purchased: 15,000 @ 1,201.00p
Value: £180,150.00

Young & Co's Brewery 'a' Shares (YNGA)
Director name: Sligo-Young,Torquil
Amount purchased: 8,000 @ 1,201.00p
Value: £96,080.00

Young & Co's Brewery 'a' Shares (YNGA)
Director name: Sligo-Young,Torquil
Amount purchased: 2,500 @ 1,201.00p
Value: £30,025.00